Finance

LONDON - The UK government "was forced" to borrow a record £62bln to balance its books in April as the public finances felt the strain from a shutdown of the economy that saw high…
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MOSCOW/WASHINGTON, D.C. - May 18, 2020 - Moscow has continued to sell off United States Treasury securities, cutting its stockpile by US$8.73 billion in March alone, according to the…
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WASHINGTON, D.C./ANKARA - May 16, 2020 - Suspending Turkey from the F-35 program may prevent jet production from continuing at its current pace, a US government report warned, as some…
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As todayÔÇÖs world teeters on the brink of a financial collapse greater than anything the world experienced in either 1923 Weimar or the 1929 Great depression, a serious discussion has…
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WASHINGTON, D.C. - Treasury Secretary Steven Mnuchin acknowledged on Sunday that the unemployment rate in the United States may have already reached 25% as the administration works to…
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RIYADH - Saudi Arabia is set to suspend the cost-of-living allowance for state employees and increase value-added tax (VAT), amid a slump in oil prices and the coronavirus crisis.…
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BRUSSELS - The lockdown will plunge most of Europe into its worst recession since the 1930s, according to a grim forecast released by the European Commission. Brussels had to abandon…
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LONDON - A Bank of England scenario sees UK GDP falling 14% this year and the jobless rate hitting 8% as the lockdown ravages the economy. The Bank released its first work on the…
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BEIJING - As China expands globally, seeking significant financial autonomy and less dependency on America amid its trade war with Washington, the country has long sought to wean itself…
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Almost 70% of Africans said food and water would be a problem during a 14-day lockdown, while more than half would run out of money, a new report found on Tuesday. African countries…
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